Skyview Capital has acquired the Teach platform of Newell Rubbermaid which includes the Mimio and Headsprout interactive teaching technology brands.
Mimio is a provider of interactive teaching technologies for K–12 classrooms. Mimio’s technologies include the recently launched MimioMobile app and its MimioStudio classroom software. These two programs give teachers the ability to create collaborative learning environments using mobile devices in their classrooms. The MimioSprout and Mimio Reading online instructional reading programs provide schools and homes lessons to teach reading to students in pre–K through eighth grade. The complete MimioClassroom suite of interactive technologies and instructional software are used in more than 600,000 classrooms worldwide. Mimio was founded in 1997 and is headquartered in Cambridge, MA (www.mimio.com).
“We are very excited about adding Mimio to the Skyview portfolio. We see tremendous potential in both the education technology and curriculum segments. Mimio has cutting-edge technologies to enhance the learning experience for students around the world,” said Alex Soltani, chairman of Skyview Capital.
Skyview Capital specializes in the acquisition and management of “systems – critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. Target companies will typically be divisions, assets, or subsidiaries of Fortune 1000 companies that have revenues of $10 million to $400 million and that are no longer core to their owner’s overall business strategy. Acquisitions can be geographically located in North America, South America, and Europe. Skyview is headquartered in Beverly Hills (www.skyviewcapital.com).
“Skyview has a deep understanding of and experience in the technology industry and sees the value Mimio has to offer. The firm has a proven track record of helping companies increase in value, and we are confident that the Mimio business will benefit from this expertise as we continue to fulfill our mission of offering innovative and relevant instructional technologies,” said Mimio’s General Manager, Manny Perez.
Newell Rubbermaid (NYSE: NWL) is a marketer of consumer and commercial products with 2012 sales of approximately $5.6 billion. Brands include Sharpie, Paper Mate, Rubbermaid Commercial Products, Irwin, Lenox, Parker, Waterman, Rubbermaid, Levolor, Calphalon, Goody, Graco, Aprica and Dymo. The company is headquartered in Atlanta (www.newellrubbermaid.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-16-13
